Trump Media Technology Group, a company associated with President Donald Trump’s family, has completed a $2.44 billion collection with the central purpose of acquiring Bitcoin (BTC).
The management consisted of privately owned arrangements of convertible stocks and bonds, with around 50 institutional investors involved. Specifically, more than 55 million shares were sold to US$25.72 each, adding approximately US$1,440 million. This added convertible bonds to win USD 1,000 million in 2028, setting a conversion price of USD 34.72 per share.
The offer earned a net net of approximately USD 2.32 billion. Trump Media allocates these funds primarily to Bitcoin for the creation of strategic reserves. It is also used for general corporate purposes and working capital, according to the company announced. Bitcoin management will be responsible for crypto.com and Anchorage Digital.
“Trump Media is focused on acquiring large assets, and this agreement provides financial freedom to implement the remainder of our strategy,” said Devin Nunes, the company’s CEO and president. “Our shareholders are now exposed directly to Bitcoin, allowing the company to continue to move forward with a constant visualization in Economy America,” he added.
As Cryptootics reports, with this money, Trump Media can purchase around 20,000 BTC.
